Michael van de Poppe, a well-known crypto analyst, believes three prominent cryptocurrencies are on the verge of a comeback.
Chainlink
Commencing with Chain Link, a decentralized oracle network (LINK).
While LINK’s price behavior has been concerning, the crypto trader believes it will benefit greatly and trigger rebounds in the coming days.
“Not the most beautiful chart, but this is my scenario at this point. In that case, I’m expecting a continuation towards $12.50 to be happening, before a bearish rejection and some retests, after which the bull starts again.”
At the time of writing, Chainlink was trading for $7.61, up roughly 4% on the day. A jump to $12.50 is a 64 % gain.
Vechain
Van de Poppe then examines VeChain (VET), a blockchain that focuses on enterprise solutions. Despite the fact that VET has dropped far from its all-time highs, the crypto trader believes it is nearing the end of its bearish trend.
“This one is relatively simple. Lost the support around $0.045 and started falling down towards the high of the previous cycle in 2020. Expecting that to be a massive resistance and some sideways action. Should be relatively done with the bear market.”
At the time of writing, VeChain is trading at $0.032, up roughly 3% in the previous 24 hours.
Verasity
Van de Poppe also looks into Verasity’s (VRA) native coin, which is a next-generation video-sharing blockchain network. Despite the fact that the cryptocurrency has indeed experienced a significant bear market, the trader believes VRA will re-test its lower support eventually and rebound from this level.
“VRA. This one is having a heavy bear market. The ultimate low could be $0.0035, but that’s depending on the market structure. Overall, expecting a little more upwards momentum of around 40-60% towards $0.012 for a bearish retest.”
Therefore at the time of posting, Verasity was worth $0.0088. In terms of market capitalization, ChainLink is nearly twice as large as Vechain.
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Source: https://coinpedia.org/altcoin/link-vet-and-vra-price-may-see-breakout-in-coming-days/